StockNews.com Upgrades New York Mortgage Trust (NASDAQ:NYMT) to Hold

New York Mortgage Trust (NASDAQ:NYMT) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Separately, Janney Montgomery Scott started coverage on shares of New York Mortgage Trust in a report on Tuesday, August 13th. They issued a “neutral” rating and a $7.00 price target for the company. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.75.

New York Mortgage Trust Stock Performance

NASDAQ:NYMT opened at $6.61 on Thursday. The business’s fifty day moving average is $6.44 and its 200 day moving average is $6.52. The firm has a market cap of $598.73 million, a price-to-earnings ratio of -3.57 and a beta of 1.94. The company has a debt-to-equity ratio of 6.30, a quick ratio of 6.46 and a current ratio of 6.46. New York Mortgage Trust has a 52-week low of $5.51 and a 52-week high of $9.68.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in New York Mortgage Trust by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,527,776 shares of the real estate investment trust’s stock worth $13,032,000 after acquiring an additional 132,162 shares during the last quarter. EMG Holdings L.P. grew its holdings in shares of New York Mortgage Trust by 103.8% in the second quarter. EMG Holdings L.P. now owns 1,199,850 shares of the real estate investment trust’s stock worth $7,007,000 after purchasing an additional 610,971 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of New York Mortgage Trust by 0.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 833,702 shares of the real estate investment trust’s stock worth $6,003,000 after buying an additional 6,148 shares during the period. Van ECK Associates Corp increased its stake in shares of New York Mortgage Trust by 35.8% in the second quarter. Van ECK Associates Corp now owns 786,273 shares of the real estate investment trust’s stock worth $4,592,000 after buying an additional 207,344 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in New York Mortgage Trust by 5.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 760,054 shares of the real estate investment trust’s stock valued at $4,439,000 after buying an additional 42,007 shares during the last quarter. Hedge funds and other institutional investors own 54.89% of the company’s stock.

About New York Mortgage Trust

New York Mortgage Trust, Inc acquires, invests in, finances, and manages mortgage-related single-family and multi-family residential assets in the United States. Its targeted investments include residential loans, including business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); single-family rental properties; and other mortgage, residential housing, and credit-related assets.